Specialist condiments and oils start-up Hunter & Gather has raised more than £700k from the crowd, comfortably beating its target of £500k as it targets more mainstream retail listings.
The company continues to overfund and so far has secured £730k from almost 200 investors on the Seedrs platform, valuing it at £8.1m.
It has served more than 100,000 customers on Amazon and through its DTC site, racking up total revenues of £7.5m since launching in 2017. The business also has listings with Ocado, Booths, Holland & Barrett, Whole Foods Market, Selfridges, Planet Organic, Daylesford and independents.
Hunter & Gather plans to expand its retail presence in the UK, focusing on winning new listings with supermarkets and speciality health stores, while also pushing into Europe.
The business makes a wide range of more than 30 products across multiple categories, including oils, sauces, supplements and collagen using all-natural ingredients free-from artificial preservatives, refined sugars and grains and seed oils.
Its products include mayonnaise variants made from avocado oil or olive oil, unsweetened smoky barbecue sauce and a ketchup the business claimed as the UK’s first “truly ketogenic” version of the classic sauce.
Founded by Amy Moring, who is a coeliac, and Jefferson Webster, the business aims its products towards consumers with food intolerances and those following a paleo, gluten-free or keto diet but is looking to broaden its appeal.
It will use the funds from the crowd round to develop more products, invest in the retail channel and grow brand awareness, as well as finalising its B-Corp status and hiring staff.
Moring said the business continued to grow exponentially, with D2C sales up 76% vs year on year.
“We are continuing to drive our subscription revenue growth and have recently launched into over 300 Holland & Barrett stores,” she added. “And with the crowd investment we are going to be focusing on launching into more bricks-and-mortar retailers.”
Webster said: “Having launched in 2017 and successfully built a passionate and loyal customer base in the keto and ancestrally inspired communities, Hunter & Gather is seeing…